Snap-on’s (SNA) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Snap-on (NYSE:SNA) in a research note released on Monday morning,Benzinga reports. They currently have a $360.00 price target on the stock.

Several other analysts have also issued reports on the stock. Robert W. Baird upped their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America raised their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $347.40.

Snap-on Price Performance

NYSE SNA opened at $351.98 on Monday. Snap-on has a 12-month low of $252.98 and a 12-month high of $373.89. The firm’s 50 day moving average is $349.59 and its 200-day moving average is $317.51. The company has a market capitalization of $18.48 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.43%. Snap-on’s payout ratio is currently 44.06%.

Insider Activity at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock valued at $11,400,978 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap-on

Large investors have recently bought and sold shares of the stock. Aurora Investment Counsel raised its holdings in shares of Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after purchasing an additional 30 shares during the period. Greenleaf Trust raised its stake in shares of Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after buying an additional 30 shares during the period. UMB Bank n.a. lifted its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after acquiring an additional 31 shares during the period. Finally, Lake Street Advisors Group LLC increased its holdings in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after acquiring an additional 32 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.